CALGARY, ALBERTA--(Marketwired - Feb. 4, 2015) - Rock Energy Inc. (TSX:RE) ("Rock" or the "Company") is pleased to announce that in connection with the previously announced offering of common shares ("Common Shares"), the Company and the syndicate of underwriters led by Dundee Securities Ltd. and including Acumen Capital Finance Partners Limited, AltaCorp Capital Inc., FirstEnergy Capital Corp., Haywood Securities Inc., National Bank Financial Inc., Paradigm Capital Inc. and GMP Securities L.P. [Read more]
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Alberta oilfield services firm Newalta laying off 180 staff to reduce costs
CALGARY - Another Alberta-based company with ties to the oilpatch is laying off staff.Newalta Corporation (TSX:NAL) says it is cutting 180 people from its workforce to reduce costs and improve margins.The Calgary firm says the cuts amount to 15 per cent of its staff.Newalta calls itself North America's leading provider of engineered environmental solutions that enable customers to reduce disposal, enhance recycling and recover valuable resources from oil and gas exploration and production [Read more]
Alberta premier nixes corporate tax hikes to fill budget hole left by low oil
EDMONTON - Premier Jim Prentice says he won't hike corporate taxes to help rescue Alberta's economy from the deep hole created by plunging oil prices."When it comes to corporate tax, other Canadian provinces have caught up to the Alberta Advantage, and I think it would be unwise at this point to increase our corporate income tax," Prentice told reporters Tuesday in a conference call from Washington, D.C."It will simply result in less investment, fewer jobs, and it will contribute to a decline in [Read more]
LGX Oil + Gas Inc. announces results of successful 2014 drilling program
CALGARY, Feb. 3, 2015 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV: OIL) is pleased to provide completion results from late 2014 southern Alberta drilling activity. LGX drilled two horizontal wells into the Big Valley (Three Forks) Formation (12-2-8-24W4 and 6-36-8-24W4). The total capital expenditures for the two wells came in on budget at approximately $14 million. The 12-2 well was drilled with a 1,402 m horizontal lateral and was completed with a 20 stage fracture [Read more]
Suncor Energy appoints new member to Board of Directors
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Jim Simpson, Chair of the Board of Directors of Suncor Energy, is pleased to announce the appointment of Jacynthe Côté to the company's Board of Directors. Ms. Côté's appointment is effective immediately. "I'm pleased to welcome Ms. Côté to our Board," said Mr. Simpson. "Her extensive corporate experience, particularly in the mining sector, is an asset that will certainly serve Suncor well. I look forward to working with her and other members [Read more]
Rock Energy Inc. Announces $10.0 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Rock Energy Inc. ("Rock" or the "Company") (TSX:RE) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Dundee Securities Ltd. and including Acumen Capital Finance Partners Limited, AltaCorp Capital Inc., FirstEnergy Capital Corp., Haywood Securities Inc., National Bank Financial Inc., Paradigm Capital Inc. and GMP Securities L.P. (collectively, the "Underwriters"), pursuant to which the [Read more]
Vital Energy Inc.: Drilling Update
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Vital Energy Inc. ("Vital" or the "Corporation") (TSX VENTURE:VUX) announces the following status update: Pennant Area, S.W. Saskatchewan: The previously announced 2 horizontal well locations at 2A8-15-3A2-15-18-17 W3M and 3D1-15-2D9-15-18-17 W3M have both been drilled, cased and are currently being equipped for production. Production rates will be announced after the wells have been on production for a minimum of 30 days. Based on the [Read more]
Oil rises another 3 per cent as BP cuts spending, adding to signs of production cuts
NEW YORK - Oil soared again Tuesday as the low prices of the past few months force oil companies to slow down production in the U.S. and elsewhere.In the morning, BP became the latest major oil company to announce it will cut exploration spending this year. Oil seemed to get a further boost in the afternoon from a run-up in the U.S. stock market.U.S. oil rose $3.48, or 7 per cent, to $53.05 a barrel, its highest closing price this year. Brent crude, a benchmark for many international oils [Read more]
Manitok Energy Inc. Provides Operations and Corporate Update
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is providing an operations and corporate update. Operations Update Cordel-Stolberg Manitok concluded 2014 by successfully completing the drilling and production test of two Cardium light oil wells. The two wells are 103/13-21-42-15W5 (33% working interest) and 13-11-42-15W5 (30% working interest). This completes a 15 well (6.8 net) drilling program in Cordel-Stolberg [Read more]
In Fort McMurray, contractors bearing the brunt of oilsands cutbacks
FORT MCMURRAY, Alta. - Roman Skowroniski would go back home to British Columbia if he thought the job prospects there were any brighter.But, for the time being, the heavy equipment operator will keep trying to make a go of it in Fort Mac."Right now the economy's very, very slow," he said. "The situation has started to get from bad to worse."Most of the time, Skowroniski is able to land short-term jobs through his union, but he's had little success lately."Our job board — it's equal to zero right [Read more]